Parliamentary Finance: We will vote on the budget next Sunday

[yota691]

 

Parliamentary Finance: 2017 budget is a loan

 

Wed, 09 Nov 2016 14:20:23

 

 

 

 

 

 

 

 

 

 

He saw the parliamentary finance committee member Majda al-Tamimi, the 2017 budget is a loan, while the government accused of failing to secure financial situation.

Tamimi said in a press statement, that "there are many comments on the 2017 budget, as the citizens pay the price for the failure of the government because of the many taxes and deduct the salaries of employees and retirees."

And showed that "the budget is a loan and this is a government failure," indicating that "the government's financial policy, where a large waste of money in light of the previous budgets explosive."

The House of Representatives has completed the second reading of the budget law in 2017 as head of the parliamentary legal committee, Mahmoud Hassan urged to make clear amendments to the draft budget law, particularly the paragraphs that give rise to an increase in financial allocations to ensure that no appeal against it.

[Flamtap]

Thanks Yota

[TexasMike1958]

Now the next step is to vote on it.... when in ellhay with that be???  Probably have to take 10 days off cause they have worked 3 days in a row.

[Flash101]

Yea and who ever gives that loan may never see their money again unless they promise to pay it back SOON. +1 TexasMike from

 

101

[Rabbi]

Now the next step is sending it back to the CoM to incorporate the proposed amendments.

[King Bean]

1 hour ago, TexasMike1958 said:

Now the next step is to vote on it.... when in ellhay with that be???  Probably have to take 10 days off cause they have worked 3 days in a row.

Well TM you're wrong. They're taking 16 DAYS OFF, back the 26th. Apparently the country can run itself with all the ISIS problems, embezzlement, bombs, unpassed laws, financial difficulties, open COM positions, 170+ GOI members that fail to show up week after week. Guess they don't have anything else to worry about except number of vacation days.

[calkid11]

Thank you Yota 

[soreback]

thanks yota

[sandfly]

Thanks 

[yota691]

Jubouri: document positive settlement ruins and we have four requests to question ministers and heads of agencies expanded {}

History of edits:: 11/10/2016 14:49 • 0 visits readable

{Baghdad} Euphrates News said Parliament Speaker Salim al-Jubouri, said Thursday that a close political settlement and the many positive and comprehensive features, revealing the "submit four requests to question ministers and heads of agencies.

Jubouri said in a press conference held in the parliament building, which was attended by Agency correspondent {Euphrates News} Today, that " the Supreme Audit Reports on the final accounts to the year 2011 and what is being said by some of the violations confirmed to give 120 days to correct these mistakes and otherwise referred View to the courts to hold negligent and accounting transgressor on the rights of the Iraqi people. " 
He added that" now we are in the process of discussion the budget law parliament has completed its second reading and we are on the verge of enactment of this important law Perhaps the most prominent features of the law showed a deficit of 21% by the total budget expenditures for the year 2017 5% for 2016, and oil revenues for 86% of oil , "he said , adding , " we expect to increase exports to 3.75 million barrels adoption of the price per barrel to $ 42, and the salaries and expenses of 75% and the Gaza security and defense reached its allocation of 23% of total expenditures. " 
he added "We focused on the federal budget on the three aspects of the low -income people and the poor and the conduct of military operations and expenses related to Baktat war and displaced persons and the need to focus on them." 
on the nomination of the names of the ministers grandfather Jubouri that "the House of Representatives did not receive any nomination to the Ministry of ministries vacant for various reasons did not receive traffic self or names. " 
on the censorship issue and interrogations said Jubouri to" receipt of parliament so far four requests to question ministers and heads of agencies, and are continuing to perform our oversight role and what it takes to host or questioning any official. " 
and victories security forces said al - Jubouri that" these victories shop pride and appreciation for us and for all Iraqis and appreciate the keenness of the security forces on the lives of civilians in the breakers operations and undertaking to provide the humanitarian needs of the population of the liberated areas despite the burden of those forces in the fighting. " 
He called al - Jubouri , the local government in Nineveh to" make extraordinary efforts to provide all necessary services for urgent sons the liberated areas and displaced from areas of fighting with the enemy, and rescue the displaced families in the areas that have been edited or areas where fighting and speed to provide every assistance to them to find adequate shelter and to provide the necessary humanitarian needs Urgent. " 

in regard to the issue of Kirkuk Jubouri province , he said" It was us a visit to Kirkuk and learned in the field to the displaced citizens conditions, we have made efforts to reduce that suffering has reached out yesterday to meet with the initiative with actors that have a role in solving the problem as soon as possible. " 
on the close political settlement Jubouri said , " I am personally seen by unofficially where many comprehensive positive landmarks but we must not only stands for endoscopy, but you need an actual concrete actions. " 
about what raises the issue of the postponement of provincial elections explain Jubouri that" the coming days on which either the decision will be in by the decision taken by the Council of Representatives or by provincial law is currently in the legal Committee and will be discussed and a paragraph about the timings. " 
However, the" Article 9 of the Constitution talks about building the Iraqi armed forces and does not interfere with the political aspects and be under the command of the commander in chief of the armed forces and all those who carry weapons outside the framework of the armed forces launched by militia. " 
He noted that" the political powers are considering the popular crowd Act in accordance with the principles of the general command of the University under the leadership of the armed forces and talk about the demise of labels, tags and titles and be compatible under his command in a clear and explicit. " 
The Amplified Jubouri that" the House of Representatives appreciates all the efforts of all the volunteers and the various provinces in the editing process , which has made great achievements, but in my conviction that restrict arms possession to the state and move the process of collecting a single command is to state the terms of reference and should stabilize our presence and our faith in the Constitution to move towards liberalization and peace mission "and .anthy

[Laid Back]

The Budget is a Loan.

A budget is a quantitative expression of a plan for a defined period of time. It may include planned sales volumes and revenues, resource quantities, costs and expenses, assets, liabilities and cash flows.

A loan is the act of giving money, property or other material goods to another party in exchange for future repayment of the principal amount along with interest or other finance charges.

We focused on the federal budget on the three aspects of the low -income people and the poor and the conduct of military operations.

They're are planning to give more purchasing power to the people.

Go CBI

Go new monetary policy 

Go purchasing power

[Tubbs]

Mahalo 

[yota691]

Reduce the budget deficit needs an efficient administration

 

 

15/11/2016 1:52  BAGHDAD / Imad emirate  economists continue to read the contents of the draft federal budget law for 2017, focusing on trends aimed to reduce the deficit and undermine it through their proposals that take several forms. The nature of the laws and procedures governing the work of fiscal policy control in any country plays a major role in determining the course and the size of the budget deficit within the overall framework of these policies, and when the macroeconomic imbalances and clear , the need to carry out financial reforms is inevitable   to determine the size of the reduction required attainable fiscal deficit and the length of time possible application and discuss the factors that could have an impact on the amount of the reduction of the deficit.  It is scheduled to witness the coming days , approval of the draft federal budget law for 2017 , after a minute revisions by the House of Representatives, especially as the current year budget was approved in record time late the   past.  in this regard , an economic expert , Dr. Akram Abdel Aziz confirmed that reform of the budget deficit of 20 percent , a process that requires public finance reform traditional Ppaduadtha expenses and general revenues, and that dealing with the budget deficit requires research in various aspects underlie the continuing shortfall and Tname   and accumulation.  She stressed that the search for a way out to overcome the deficit in the budget entails the rationalization and restructuring of public expenditure as well as reforming the tax actually diversify revenue, noting that the expansion of government activity is directly responsible for the economic activity, it also affects indirectly, through spending and resource mobilization on the way you use resources in economic activity.  it is said that borrowing, internal treasury vouchers, and external government bonds , one mitigating deficit solutions is alongside international loans and grants, but the revitalization of the national economy and activating the productive sectors significantly reduces the negative effects resulting from borrowing -hsp opinion specialists and Bra-.  She drew Abdul Aziz said some specialized studies have shown that financial mismanagement was a major cause for various problems such as the increasing size of the deficit the general budget of the state , along with heightened rates of inflation and weak growth in production or development in a negative way.  the the total planned deficit for the general budget for 2017 amounted to 21 Trliuna and 659 billion and 739 million and 790 000 dinars, while the financial allocations estimated for the same year 79 Trliuna and 11 billion and 421 million dinars, and calculated the revenue earned from the export of crude oil at a rate of $ 42 per barrel.  she Abdul Aziz : the strategic financial reform concentrated reconsider fiscal policy as akey element in the conduct of the course of economic reform and structural adjustment, adding that fiscal policy trends is the head of the determinants of economic development at the local and international levels.  "in many cases , we can not do structural reform comprehensive policy spending government , but in the medium - term framework based on research in the factors that drive public spending towards increasing, as there are arguments in economic circles confirm that he is not in the situation reform of financial imbalances Once reduce expenses but to reconsider by revenue structure, in particular , and research in real   systems tax. "  It continued: fiscal policy is the efforts adopted to achieve full employment and government attempts by public spending and public borrowing and tax policies as well as to those policies based catalyst in eliminating inflationary gaps and deflationary.  Abdul Aziz pointed out that the reduction of the fiscal deficit through budget management efficiently serves as the basis for the step necessary not Zala structural imbalances in particular that the budget reflects the extent of liability undertaken by taxpayers and creditors of the government as well as the financial strength of the government sector within the overall financial control , with the possibility of achieving economic prosperity in the overall economy by giving priority to different activities in the allocation of resources  (budget) administration.  showed: public spending requires that the measures taken on the deficit reduction will not be based on quantitative criteria only that it is necessary to take into account the quality and sustainability of deficit reduction programs, pointing out the need to be cut public spending and a realistic and logical measures, and to be doable from an economic, political and social aspects.

[yota691]

Economist: reducing government expenditures on goods would reduce the deficit

 

 

Economy News / Continue ...     Said economic expert on behalf of Antoine, Wednesday, that the decision of Prime Minister Haider al-Abadi reducing government expenditures on goods and services will reduce the budget deficit in 2017.   Antoine said in a press statement, that "the step of Prime Minister Haider al-Abadi reducing government expenditures on goods and services considered to reduce the proportion of the deficit in the current budget and shrink purchasing power.   "The private sector has become today in the unenviable position and does not have a surplus to distract them," noting that "the government is the sole financier."   The Prime Minister Haider al-Abadi said, on Tuesday, reducing government expenditures on goods and services increased by 90% compared to the previous Balmozanat.        mm
Views 2   Date Added 16/11/2016 - 13:24   Last updated 16/11/2016 - 12:30   No. Content 5852

[yota691]

A parliamentary committee calls for reducing Almtharian in presidencies allowance deductions from employees' salaries

Political

 Since 11/16/2016 11:14 pm (Baghdad time)

Baghdad balances News

He said a member of the parliamentary human rights committee Ashwaq dry, Wednesday, the Commission refused to paragraph increase the proportion of employees and retirees in the budget of 3% to 4.8 salaries deducted, as revealed most prominent Notes committee on the budget law.

She said dry in a statement seen by / balances News /, that "the human rights committee in the House of Representatives held intensive meetings to discuss the draft 2017 budget law, and concluded the meeting to take notes on paragraphs of the budget, including the percentage of deductions employees' salaries, as the draft included an increase deduction to 4.8%, the Commission has rejected the increase and demanded to be kept at 3%, indicating that we refuse to be a victim of retired employees or the lack of a strategy for the government over the past years. "

"The committee demanded the exception of displaced persons from the judiciary and judicial duties," pointing out that "the committee also demanded to reduce the large number of advisers in the three governing bodies only by experienced qualified and keep, to minimize the physical consequences of the protections and wheels in order to relieve pressure on the state budget."

 

She continued, "The committee called for the retention of the property tax rate of 10% in order to prevent the exploitation of property owners to citizens," .anthy 29 / D 24

[yota691]

Dispute over the vice president allocations and objection to the government of deduction from employees' salaries .. parliamentary economics for "Zora": Parliament will vote on the 2017 budget before the end of the current year, despite the notes thereon

November 14 2016 20:55 |  Number of views: 258

Dispute over the vice president allocations and objection to the government of deduction from employees' salaries .. parliamentary economics for "Zora": Parliament will vote on the 2017 budget before the end of the current year, despite the notes thereon

Zora / Yousef Salman: 
With resumes House of Representatives held its regular 26 this month after the end of the ceremony forty visit, the parliamentary committees in the drafting of proposals on the budget bill continues in preparation for a vote soon.The Commission on Economy and Investment parliamentary torque parliament to pass the draft federal budget for 2017 Law, before the end of the current year , despite having a lot of notes on them. Said committee member Najiba Najib's «Zora» that «the economic and investment commission in Parliament has a lot of comments on the draft federal budget bill for 2017 , which arrived from the Government and has been read the first reading of the subject under discussion currently has parliamentary committees». She added that «of the notes that we have with regard to the issue of the deduction of 3% allocated to support the displaced folk crowd, indicating that« is not permitted to deduct 4.8% of the employee 's salary with a limited income, while spending on the cabinet offices and the Presidency and the House of Representatives big money ». She said «we have notes about some of the material relating to the private sector, investment and taxes, thus we believe that there are many amendments will be included in the budget bill», as pointed to «the budget in 2017 close to reality with the exception of 21 billion dinars deficit». According to Najib that « the committee will submit its observations to other committees on finance such as the Committee and the Legal Committee Alniabaten, so that we can complete the budget as required», indicating that «there is a desire and determination by Parliament to complete the budget and voted on before the end of this year». She added that « the Finance Committee discussed the preparation of the employees in the Iraqi embassies in the countries«, as pointed out that «Iraq Aithml huge number of embassy officials in other countries, and saw that« the budget will be completed shortly after he promised the government to respond to the proposals of the parliamentary finance committee and other committees ». But the parliamentary finance committee member Masood Haider confirmed that the deputy president of the republic allocations are part of the budget of the presidency of the Republic and not in isolation. He is stressing that «disbursements Office of the President of the Republic is about double the disbursements Prime Minister 's Office». Haider said in a press statement that « the Federal Court 's decision is binding on the parliament and the Finance Committee in Parliament, and on everyone to respect the constitution and not to the threat not to vote on the budget bill in the event included allocations for the Vice -Presidents» ruling out the possibility of affected sectors of government allocations in the federal budget for 2017 in case included vice presidents allocations ». He added that « the Vice President of the Republic allocations are part of the budget of the Presidency and not separate them or outside the framework, and will not be attached even including exclusively in the budget bill», indicating that « the Vice President of the Republic allocations within the budget bill is not great at the level of It could affect or disrupt or cause a breach of the status of the budget ».

[yota691]

Coming soon: Install contracts owners Landlords budget 2017

 

 

 

Politician  Number of Views: 56 16/11/2016 12:13

 

National Center Bri / NNC- announced the chairman of the parliamentary integrity, Talal Zobaie, that parliament is drafting a legal way out in the draft general budget in 2017 to file contract employees, pointing out that the parliamentary committee recorded detailed observations and the final accounts will be presented to parliament.

Zobaie said in a press statement on Wednesday, said that "the parliamentary Integrity Group made observations on the budget bill to the Finance Committee."

He Zubai, that "the overall observations respect to contract employees in the ministries file and transfers some sectors, allocations to other sectors," adding that "the parliament is drafting a legal way out in the general budget of the file contract employees in the ministries, with the need to install their salaries on the permanent staffing solution better." .

He Zubai that "the final accounts for the current year budget in 2016 authentication will be postponed for another time later, because time is specified with the parliament to pass a new budget law," while pointing out that "the parliamentary committee recorded detailed observations on the final accounts and will be presented to the parliament."

The House of Representatives recently voted on the final accounts of the previous budgets 2008-2009-2010-2011 authentication, while continuing to discuss the draft law on the federal budget in 2017 custody of the parliamentary committees.

The parliamentary Finance Committee, announced yesterday, the reduction of the state's departments staff in the federal budget for the salaries for 2017. Committee Chairman Mohammed Halbusi in a press statement, that "it is within the terms of an IMF loan to reduce two billion dinars of the total salaries of state employees and to stop appointments in the federal budget. "

[yota691]

Parliamentary Finance: $ 16 billion borrowing internal and external installed in budget

 

 

Economy News / Baghdad ...     Parliamentary Finance Committee confirmed on Thursday that the internal and external loans amounted to about $ 16 billion has been installed in the budget law for 2017, as pointed out that there is a discussion paragraphs of the budget will be made after Arbain visit. A member of the Finance Committee Magda Tamimi in an interview, that the percentage of foreign loans 55 percent of the 16 billion dollars that have been installed in the budget law, indicating that the committee would resume its meetings interrupted by Arbain visit and discuss the paragraphs of the budget and submit it to parliament. She drew Tamimi out there that are difficult to install because of the decades-stop appointments in government departments as well as the financial distress experienced by the government does not allow it. It is said that Prime Minister Haider al-Abadi, announced Tuesday, 10/18/2016, to send the draft budget to the 2017 Act to the House of Representatives after making amendments to it, pointing out that the project included the previous agreement with the Kurdistan, while pointing to an amendment to the bill Amnesty year.
Views 11   Date Added 11/17/2016 - 11:17   Last updated 11/17/2016 - 12:26   No. Content 5860

[yota691]

Finance Committee: Parliament intends to transfer allocations presidency within the 2017 budget to other priority sectors more (Details)

16-11-2016 12:32 PM

Hits: 1012

 

Orbit News -

 

 

He stressed the Parliamentary Finance Committee member Hassan punitive, on Wednesday, the determination of the House of Representatives on the reallocation of the allocations of the presidency within the 2017 budget to other sectors more priority.

 
He said punitive in a press statement, said that the government found itself forced to rely on cash reserves to finance the Iraqi state expenses due to falling oil prices to below $ 40 a barrel, as happened in the years 2015 to 2016, where he was pulled over nine trillion dinars from him.

 
Punitive and pointed out that the budget bill for 2017 included the allocation of 50 billion dinars for the Office of the President, and the allocation of 39 billion dinars to the Directorate of disarmament and merging of militias, which the parliament voted to end its work within the budget of 2015, adding that 'there is a tendency to move towards the redeployment of those money and reduce allocations to other sectors, including more priority to rally public and for the displaced and address the ratio of the government of deduction from the salaries of employees and retirees. "

He explained punitive, that the meetings of the parliamentary committee are still ongoing to formulate proposals and observations in the final report to the budget bill for presentation to the presidency of the parliament early next month and vote on adoption of the budget.

[Big_J]

[yota691]

Parliamentary Finance: Employees receive their salaries on time

History of edits:: 11/17/2016 17:25 • 5467 visits readable

{Baghdad} Euphrates News confirmed the parliamentary finance committee member Ahmed Sarhan that employees receive their salaries on time.

Said Ahmed told {Euphrates News} on Thursday, that "does not have any delay in salaries delivery they receive their salaries on time and that there was a day or two this is not regarded delay it." 
He continued saying Regarding the 2017 budget , we in are moving the Commission for the purpose of preparing an final by taking the proposals of the House of Representatives for the purpose of maturation and approval in the parliament. 
the House of Representatives has completed the second reading of the law in 2017 budget as chairman of the legal Committee of parliament Mahmoud al - Hassan urged to make clear amendments to the draft budget law, particularly the paragraphs that give rise to an increase in financial allocations to ensure not to contest Bha.anthy

[yota691]

Iraq reaffirms its commitment to the dates of disbursement of pensions according to banking mechanisms in place

Posted by: admin2  in the economy  of November 17, 2016 0  19 visit

 

BAGHDAD / SNG confirmed Rafidain Bank, on Thursday, his commitment to the dates of disbursement of pensions according to the mechanisms of banking and contexts used.

The media office of the bank said in a statement SNG received a copy of the "bank upon receiving payroll retirement overlying body with her instrument clause provides balance, is a timely and within a few hours raise salaries electronically."

"The work of the bank is confined to raise the amounts sent him off."

 

 

 

The General Authority for retirement Rafidain and Rasheed through the distribution of salaries for retired military personnel every two months in odd-numbered months, while distributing salaries civilian retirees every two months marital months.

[yota691]

This is a Good Read...Payment on Credits ...article from Sept 2016...

Iraq’s Shrinking Revenues, the I.M.F. and the Oil Dilemma

By Ruba Husari | Scholar - The Middle East Institute | Sep 19, 2016

 

 

 

 

The International Monetary Fund announced in July that it has approved a three-year, $5.34 billion loan for Iraq under the Stand-By Arrangement facility, which it said was focused on “implementing economic and financial policies to help the country cope with lower oil prices and ensure debt sustainability.” The promised financial assistance was made conditional on—among other things—Baghdad settling all debts to international oil companies (IOCs) without adding new debts. To satisfy that condition, this would require Iraq to allocate a big chunk of its oil exports to paying IOCs at the expense of revenues to the treasury. In the current dysfunctional political system in Iraq and the low accountability among its political class, the first victim of this arrangement will be Iraq’s oil market share where it faces fierce competition from Iran and Saudi Arabia.

The suggested reform program is very ambitious. It aims, according to the I.M.F., to bring spending in line with lower global oil prices, strengthen public financial management, and curb corruption, none of which the successive governments in Iraq had managed to do, or at least attempted to do.

The three-year loan comes on the heels of about $1.24 billion that Iraq received in 2015 from the I.M.F. under the Rapid Financing Instrument. It is also expected to open the door for Iraq for further external financing, which, according to some estimates, could amount to another $10 billion.

There are several caveats to the deal. An important one is that Iraq should pay all arrears owed to IOCs by year end and continue to be debt-free vis-à-vis those companies until the program starts. Those arrears are paid by allocating a certain number of barrels from the oil dedicated for export each month to the various developers of oil fields.

Since the beginning of 2016, Iraq has allocated about 236 million barrels of crude or some 30 percent of its total exports to end August for payments to IOCs.[1] Based on the average price Iraqi oil fetches on the market, those barrels were worth some $7.7 billion. The biggest chunk of this went to the payment of arrears to IOCs from 2015. For 2016, the Iraqi oil ministry budgeted total spending for all oilfields being developed by IOCs at $9.5 billion. This will help maintain output at close to its current levels, but not expand it significantly. Just how the I.M.F. expects Iraq to clear all arrears before the beginning of the program, and increase the spending to speed up the development of the oilfields to generate more revenue, while staying debt free, is a mystery.

The terms of the 11 contracts Iraq signed with IOCs since 2009 to develop its southern oil fields requires the ministry to pay back quarterly, in kind, all the cost incurred by the companies, in addition to a fee per barrel produced.

When the oil price was high, allocating the barrels was no issue. At $100 per barrel for the Brent benchmark, just 500,000 barrels of Iraqi export crude were enough to repay IOCs $1.5 billion/month. The remaining crude produced was enough to generate the revenues to satisfy Iraq’s budgetary needs. To keep payments at that rate when the oil price hit $30/barrel (or bbl), Iraq had to allocate more than three times that volume. This is more than 50 percent of its total oil exports that represent close to 90 percent of its budgeted revenues. Iraq had less oil to export and at a lower price, generating less and less revenues. Early this year, when Brent crossed the $30 bar, Iraqi crude fetched $22 and $23/bbl in January and February.

In 2014 and 2015, Iraq’s exports averaged 3 million barrels per day.[2] This year, exports so far averaged 3.25 million b/d, from the southern terminals. Exports from the north were halted for most of the year due to disputes with the Kurdistan Regional Government over revenue sharing and allocations from the federal budget

Though oil prices have edged slightly higher in recent months, pushing Iraqi crude price to close to $40/bbl, maintaining or increasing allocations to IOCs is already claiming its first victim: Iraq’s traditional buyers or those who buy Iraqi crude on yearly term contracts.

In recent years, Somo, the Iraqi state’s oil marketing company, has been courting Asian companies offering additional commitments to buyers in an effort to expand its slice in the market share war it is fighting against Saudi Arabia and Iran. In 2016, it increased its yearly term contracts allocations by more than 11 percent over 2015, with the Asian market allocating 18 percent more crude than last year.[3]

Saudi Arabia has been the main beneficiary of sanctions imposed in past years, first on Iraqi then on Iranian oil exports. At a time when the call on OPEC oil is decreasing as a result of new unconventional resources being developed outside of the cartel, a fierce war erupted among the three competitors to defend and expand their respective share of the market, with Asia topping the courtship.

Most forecasters expect oil prices to remain around the $50 bar into 2017. Iraq is expected to add modest increments, if any, to its oil production and exports in 2017-2018. By forcing Iraq to squeeze its regular customers to expand expenditures in the oil sector, while keeping pay back to IOCs up to date, the I.M.F. conditions threaten to send Iraq back to the dark days when, doubting Iraq’s ability to fulfill its commitments, buyers, especially term contract holders, treated Iraqi crude as the oil of last resort.

The dilemma Iraq is faced with is that increasing Iraq’s oil production by investing more in the oil sector admittedly generates more revenues. But to be able to repay IOCs on time without further damage to the budget and losing its market share, constraints have to be imposed on how Iraq manages its finances.

The I.M.F.’s answer to the dilemma is through an economic reform package: better collection of taxes and customs, reducing expenditures and deficit, imposing income tax on wages and benefits of high officials, a restructuring of the budget to stop hiring, and so forth.

In a political system that, since 2003, has been founded on incompetence, corruption and an entrenched system of cronyism, this is mission impossible. This applies to the absolute majority of the executive, the legislative, and the judicial.

The federal budget is a case in point. The budget is drawn up by making simple allocations to government bodies; ministries, provincial councils, and state bodies, all of which are considered fiefdoms of the various political parties. The budget is debated and voted into law by a parliament where the norm is the impunity it awards to its MPs and their political leaders. Final state accounts, when presented several years after they are due, are closed by a vote but without professional scrutiny.

Seen within the prism of the realities on the ground, the I.M.F. measures and conditions look more like a patchwork policy of fixing the symptoms of the dysfunctional political system in Iraq, rather than transforming the system itself to enable it to carry out badly needed economic reforms.

[Officiallytook]

Oh My G!!!

[yota691]

Kurdistan Alliance: the region's share of the budget in 2017 ink on paper

 

Date: 11/19/2016 10:29

 

 

Information / special ..

It described the Kurdistan Alliance parliamentary bloc, the Sabbath, the Kurdistan Region's share of the 2017 budget as "ink on paper", stressing that what sells the province's oil not only fills half the expenses.

A member of Bloc MP Najiba Najib told / information /, "The share of the Kurdistan region defined by 17% of the budget pro forma not exist on the ground," a recipe it as "mere ink on paper."

Najib added that "the region's sales of oil independently under the supervision of specialized international company that audited the production and control of all contracts, as well as posted on the website of the Ministry of Natural Resources in the government of the province."

Najib pointed out that "the revenues received by the province from the sale of oil does not clog half of expenses."

The parliamentary Finance Committee predicted on Saturday, the parliament's vote on the draft budget law for the year 2017 end of the month, while confirming that any new request with the allocation of funds will not be included by law only after approval by the Council of Ministers. Finished / 25